Does SoFi refinance student loans for Medical Residents and Fellows?

Yes! SoFi will refinance student debt for medical residents and fellows before you become an attending physician. Residents will be required to make minimum monthly payments of $100 on their debt to SoFi until the end of your residency or fellowship program, up to 54 months. After this time, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.

Am I eligible for a SoFi Medical Resident Refinance loan?

1.) You’re a medical resident or fellow with up to four years left in your approved program. 2.) You have over $10k in private or federal student loan debt. 3.) You have graduated from a selection of Title IV accredited university or graduate programs in the U.S. 4.) You meet SoFi’s underwriting criteria.

When can I refinance?

Residents and fellows can apply to refinance once you have been matched to your residency or fellowship program. Applicants must be within 4 years of becoming an attending physician. Any fellowship or extended residency training period must be agreed to at the time of refinancing.

What terms do you offer?

SoFi offers 5, 7, 10, 15, and 20 year fixed and variable terms. This means that if you refinance today, have four years left in your residency, and refinance to a 20 year loan term, as long as you make every payment on time, your loan will be fully paid off in 24 years.

What happens to the accrued interest on my loan during the $100 payment per month residency period?

Interest that accrues while paying $100 monthly payments during the residency period will capitalize at the end of your residency period.

RESIDENT STUDENT LOAN REFINANCING

Set yourself up for
success out of residency.

✓ Pay just $100/month during residency: for up to seven years.¹
✓ Flexible rates and terms: Choose the options that work best for you.²
✓ One easy payment: Consolidate your loans into one easy payment.
✓ Earn $1,000 per referral: You’ll each earn a $1,000 bonus³ when their loan funds.

View your rate

Checking your rate will not affect your credit score.^†︎

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from a specialist.

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manage the complexities of student loan debt.

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The average doctor has
$241,600 in student loans.

If the average percentage rate (APR) on those loans is 6.75% APR, that doctor could save $35,356 in interest if they qualify for and refinance into a 10 year fixed-rate loan with SoFi at 4.29% APR^* (with autopay).

Current
Loan

Amount
$241,600

Fixed Rate
6.75% APR

Term left
10 years

If refinanced with SoFi

Amount
$241,600

Fixed Rate
4.29% APR

Term left
10 years

Estimated savings with SoFi

$35,356

See your savings

See payment examples

^*Calculated payments example and savings are only estimates based on the following assumptions. This calculation assumes the borrower is refinancing a federal Grad PLUS loan with a 6.75% APR which is the average of Grad PLUS rates over the last 4 years. It assumes they are refinancing an average loan amount of $241,600 (medical)/$301,538 (dental) into a 10-year loan term with a fixed rate of 4.29% APR (with 0.25% autopay discount), and 120 total monthly payments of $2,480/$3,095. The SoFi APR is the average APR for borrowers who took out a student loan refinance loan from SoFi over the course of 2021-2022. Borrowers are not required to enroll in autopay. This calculation assumes the borrower made no payments during the current federal loan relief of 0% interest and no required payments which is set to expire on 12/31/22. When federal loan payments resume, this calculation assumes that the borrower’s federal monthly payment remains the same and the maturity date will be pushed out by the length of the federal loan relief. Any payments and savings may vary and will depend on the actual loan amounts and APR for which the borrower is approved.

Refinance medical school loans
with low fixed or variable rates.

Fixed

6.14%–9.84% APR^*

with all discounts

Variable

6.14%–9.84% APR^*

with all discounts

View your rate

Not sure which to choose?
Learn more. →

Why refinance your medical student loans?

One easy payment
Medical student debt consolidation simplifies the repayment process by combining your loans into one monthly payment.
$100 monthly payments during residency
With our resident student loan refinancing, you pay just $100/month¹ for up to seven years. Make progress on your loans, but keep your focus on your residency.
Flexible rates and terms
A refinanced med school loan means you can choose a repayment term and pick between a low fixed or variable interest rate based on your expected future income.
Earn $1,000 per referral
Once you refinance with SoFi, you’ll be able to invite other doctors, dentists or residents to refi too—you’ll each earn a $1,000 bonus when their loan funds. Learn more.

View your rate

BTW it’s a soft inquiry, so it won’t affect your credit score.^†︎.

Medical School Loan Refinancing FAQs

Medical school graduates can refinance the student loans they used to pay for college or medical school. When you refinance, your student loans (including both federal and private student loans) are replaced with a new private student loan. Benefits of refinancing may include a lower interest rate, lower monthly payment, or the convenience of combining multiple loans into one. You may pay more interest over the life of the loan if you refinance with an extended term.

Yes, it’s possible to refinance your medical school student loans while you’re still in residency. You can find more information on medical resident refinancing here.

Yes, SoFi offers student loan refinancing for medical school graduates currently in residency or fellowship. You can find more information on medical resident refinancing here.

Upon completion or departure from your residency program, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.

See all FAQs